Apr282014

Existing home sales fell 0.2% in March to an annual rate of 4.59 million units. New home sales fell sharply by 14.5% in March to an annual rate of 384,000 units. Durable goods orders increased 2.6% in March. Initial jobless claims rose 24,000 to 329,000 for the week ended 4/19.

• Existing home sales fell 0.2% in March to an annual rate of 4.59 million units. Year-on-year, sales are down 7.5%. The median price of $198,000 is up sharply 5.4% in March, and up 7.9% from a year ago.

• New home sales fell sharply by 14.5% in March to an annual rate of 384,000 units. The median price soared 11.2% to a record high of $290,000, up 12.6% from a year ago, while sales declined 13.3% from a year ago.